Fuel prices in India have received a hike after maintaining the same price for three consecutive days. The hike has taken the price of petrol up by almost 15 to 24 paise. According to Indian Oil’s official application, the price of petrol in Delhi has been marked at ₹91.17 per litre. Diesel, in the national […]
Month: March 2021
Texas’s power market is $1.3 billion short after energy crisis
Texas’s grid operator needs to come up with $1.3 billion to pay power plants for energy they supplied during last week’s historic blackouts, raising the prospect it may require a state bailout. The Electric Reliability Council of Texas, which manages most of the state’s grid, said it’s still waiting on more than $2 billion in […]
465 four-wheeler EVs registered since the launch of Delhi’s EV policy
New Delhi: After the implementation of Delhi’s electric vehicle policy last year, the government of Delhi has announced that a total of 465 EVs have been registered. The announcement was made public by Transport Minister Kailash Gahlot. Gahlot claimed that incentives of up to ₹3 lakh are provided under Delhi’s EV policy. The incentives also […]
Discoms’ total dues to power producers rise nearly 24% to Rs1.36 lakh cr in Dec
Total dues owed by electricity distribution companies to power producers rose nearly 24% to ₹1,36,966 crore in December 2020 compared to the same month a year ago, reflecting stress in the sector. The distribution companies (discoms) owed a total of ₹1,10,660 crore to power generation firms in December 2019, according to portal PRAAPTI (Payment Ratification […]
OPEC+ faces calls to cool oil market frenzy with extra barrels
From trading houses in Geneva to Wall Street banks, much of the oil world agrees that global markets could use some more barrels. The big question is whether OPEC+ will provide enough of them. A crude glut that piled up during the pandemic is vanishing fast. Global inventories are plunging at the steepest rate in […]
Govt plans 1 crore more free LPG connections in next 2 yrs: Oil Secretary
The free LPG connection scheme is one structural reform of the Modi government that has been internationally acclaimed for ridding indoor household pollution and improving women’s health. And now, the government plans to give one crore more free LPG connections to the needy over the next two years and make it easier to access cooking […]
Fuel prices may fall by April: Oil minister Pradhan
Oil and Petroleum Minister Dharmendra Pradhan appealed to oil-producing countries to ease production cuts to stabilise the fragile global economic recovery. In a Hindustan Times report, Pradhan was quoted saying, “I am in touch with my counterparts of major oil-producing countries and have spoken to them. I have asked them to increase fuel production in […]
NHAI builds 25.54-km lane in 18 hours, to enter Limca Book of Records
The National Highway Authority of India (NHAI) completed single lane of the four-lane stretch of 25.54 km being developed between Solapur-Vijapur (NH 52) in 18 hours. Union minister for road transport and highways Nitin Gadkari shared this update on social media platform Twitter. Applauding the workers for achieving the milestone, Gadkari said “the construction will […]
India’s coal import drops 12 % to 181 MT in Apr-Jan
NEW DELHI : India’s coal import registered a drop of 11.59% to 180.84 million tonnes (MT) in the first 10 months of the ongoing fiscal. The company had imported 204.55 MT of coal in April-January period of the previous fiscal year, according to provisional data compiled by mjunction services. mjunction — a joint venture of […]
Pay bills on time, disclose actual load to get cheap electricity: UP minister
MATHURA : Uttar Pradesh power minister Srikant Sharma on Sunday exhorted consumers to pay electricity bills on time and disclose actual load usage to get cheap and uninterrupted power supply. The minister noted that the dream of the state government to provide cheap power to consumers may be translated into reality on the basis of […]
Oil resumes climb as traders look ahead to pivotal OPEC+ meeting
Oil resumed gains — rebounding from the biggest drop since November — ahead of a keenly anticipated OPEC+ production-setting meeting this week that will help to determine whether a scorching rally endures. Futures in New York rose above $62 a barrel in early Asian trading after losing 3.2% on Friday. The alliance, led by Saudi […]
Fuel retailers gearing up for rural-led economic rebound
If there’s one part of India’s economy that’s been relatively unscathed by the devastating impact of Covid-19 it’s the vast rural hinterlands. And the country’s biggest fuel retailers are sitting up and taking notice. Stay-at-home orders first imposed from March last year had a disproportionate impact on India’s teeming cities, but in small towns and […]